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Chinese Gov’t Rates EOS as the Best Public Blockchain, Bitcoin Drop to 17th

EOS tops the public blockchain in the cryptocurrency space, while bitcoin, the original and largest cryptocurrency, is ranked 17th, according to the Chinese government’s second monthly Global Public Blockchain Assessment Index released on June 20.

The index was created and released by the China Center for Information Industry Development (CCID), a research unit of the Ministry of Industry and Information Technology which is a cabinet-level department of the country. It mainly evaluates three indicators – technological capability, usefulness of the application, and innovativeness of the project.

According to the index, EOS is highly praised in terms of underlying technology and innovation; Steem runs after it in technological capability, and Bitcoin is the first runner-up in innovativeness; NEO excels in usefulness of the application.

Top 5 by technology: EOS, Steem, Ethereum, BitShares, Stellar

Top 5 by application: NEO, Ethereum, Qtum, Stellar, Nebulas

Top 5 by innovation: EOS, Bitcoin, Cardano, Ethereum, Litecoin

The index is updated monthly, which has 30 blockchain projects with their corresponding cryptocurrencies this month, with EOS and Nebulas newly added.

EOS, with an overall score of 161.5, takes the crown as the best public blockchain from Ethereum, champion of last month. Even though its mainnet was not activated until June 10 and block producing suspended during the past weekend, EOS is still deemed as the public chain with great potential of the new generation in the sector.

The other new-comer, Nebulas, a Chinese public chain project, featured by its unique approach to blockchain value proposition and a forward-thinking incentive and consensus mechanism which significantly rewards devoted developers and community contributors rather than miners, is ranked 6th with an overall score of 105.3.

Bitcoin, the oldest and most dominant cryptocurrency founded nearly 10 years ago, failed to hit the top 10 again despite discontents from crypto enthusiasts over last month’s rankings, and came in at No.17, dropping four places compared to that of last month.

The ranking may be an important resource, or silly fun one depending on how you look at it.

Although China has filed the most blockchain-related patent filings across the world so far, the country still has a long way to go in the development of public blockchain technology, with only Nebulas, NEO and QTUM out of the 30 projects led by Chinese teams.